In the spot market, gold prices declined around 1.22 per cent to ₹1,54,940 per 10 grams. Meanwhile, silver futures fell 0.5 per cent to ₹2,40,011 per kg.
Gold seen at $4,300-$4,700, silver at $70-$85 by year-end in base case, bull case pegs gold at $5,600, silver $120 by year-end
After a bruising week that wiped out more than Rs 6,000 from gold prices, commodity markets are heading into September with traders bracing for another bout of volatility as US jobs data and geopolitical tensions take centrestage, analysts said. Investors will focus on manufacturing and services PMI data from major economies, including India. Inflation figures from Eurozone and Germany, and US non-farm payroll data due towards the end of the week will also be closely tracked, they added. "The coming week is likely to remain highly volatile, with market participants attempting to price in the probability of a September Federal Reserve policy change," Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities, said. Gold futures for October delivery on the Multi Commodity Exchange (MCX) tumbled Rs 6,157, or 3.8 per cent, last week to Rs 1.56 lakh per 10 grams, while silver futures for September contract plunged Rs 9,893, or 4 per cent, to Rs 2.36 lakh per ...
A hawkish signal from Warsh could trigger further correction in gold towards the $4,500-$4,520 support zone, although downside may remain limited ahead of next week's US nonfarm payroll data.
In the global market, gold was trading near $4,700 per ounce on Comex, while silver was around $69 per ounce
In the global market, gold was trading near $4,680 per ounce on Comex, while silver was around $67.80 per ounce
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Spot gold was up 0.9 per cent at $4,643.63 per ounce, as of 0644 GMT, the highest level since mid May. Prices gained more than 5 per cent last week
In the global market, gold was trading near $4,700 per ounce on Comex, while silver was around $69 per ounce
Gold and silver prices are expected to retain their upward momentum next week, though profit-booking at higher levels may temper the rally as investors await key US inflation data, analysts said. US Core Personal Consumption Expenditures (PCE) inflation and GDP figures will be the key triggers for bullion. Developments surrounding West Asia geopolitics, particularly the US-Iran peace deal and reopening of the Strait of Hormuz, will also remain in focus, they added. "In the coming trading session, we expect bias to remain positive, but some profit-booking cannot be ruled out," Pranav Mer, Senior Vice President, EBG - Commodity & Currency Research, JM Financial Services Ltd, said. On the domestic front, gold futures for October delivery gained Rs 7,932, or 5.13 per cent, to close the week at Rs 1.62 lakh per 10 grams on the Multi Commodity Exchange (MCX). Silver for September delivery surged Rs 10,673, or 4.52 per cent, to settle at Rs 2.46 lakh per kilogram. "Gold remained firmly
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In the global market, gold was trading near $4,590 per ounce on Comex, while silver was around $69 per ounce
On the Multi Commodity Exchange (MCX), gold futures were trading near ₹1,58,300 per 10 gram at the time of writing, while silver futures were around ₹2,40,300 per kg
Global gold ETFs recorded 23.5 tonnes of inflows in July, reversing two straight months of outflows.
However, easing expectations of an interest rate increase by the Federal Reserve remained a positive factor for gold and silver
Gold remains the preferred anchor because of its defensive characteristics, central-bank demand and diversification benefits. Silver provides additional growth potential.
Q1 FY27 has surprised positively at the aggregate level: ex-OMCs, corporate earnings grew around 17 per cent YoY, led by BFSI, metals, technology and autos, said Vinit Bolinjkar.
Mirae Asset expects gold to find good support in the dips. After a brief consolidation, it is expected to test resistance at $4,500. Support is at $4,300/$4,200-$4,220.
In the global market, gold was trading near $4,465 per ounce on Comex, while silver was around $65.60 per ounce
In the global market, gold was trading near $4,475 per ounce on Comex, while silver was around $66 per ounce